Harmony Gold Mining Company Limited (HMY) vs Royal Gold, Inc. (RGLD)

Harmony Gold Mining Company Limited and Royal Gold, Inc. are both Gold companies. Royal Gold, Inc. is the larger, with a market value of $21.4B against $11.8B — 1.8× the size. Royal Gold, Inc. trades at the lower P/E: 27.5× against 58.2×. Royal Gold, Inc. grew revenue faster over the last twelve months: 93.5% against 6.90%. Royal Gold, Inc. has the higher net margin (47.8% vs 3.80%) and the higher return on invested capital (7.57% vs 0.00%). Both pay a dividend; Harmony Gold Mining Company Limited yields more (1.42% vs 1.38%). Across the 23 metrics below, Royal Gold, Inc. leads on 13 and Harmony Gold Mining Company Limited on 10.

Valuation

Metric HMY RGLD Gold median
P/E 58.23 27.53 23.34
P/S 2.19 13.84 5.02
P/B 3.85 2.80 3.53
Price to free cash flow 12.16 16.35 16.73
EV/EBITDA 10.61 17.33 8.34
EV/Sales 2.24 14.01 4.92
Earnings yield 1.72% 3.63% 1.44%
Free cash flow yield 8.23% 6.12% 0.75%

Profitability

Metric HMY RGLD Gold median
Gross margin 15.43% 86.90% 50.00%
Operating margin 0.00% 61.42% 26.32%
Net margin 3.80% 47.76% 12.30%
Free cash flow margin 0.00% 67.51% 0.00%
Return on equity 0.00% 13.49% 6.36%
Return on assets 0.00% 11.35% 0.00%
Return on invested capital 0.00% 7.57% 0.52%

Growth

Metric HMY RGLD Gold median
Revenue growth (TTM) 6.90% 93.51% 68.15%
EPS growth (last fiscal year) 117.46% 32.74% —
Revenue growth, 5-year CAGR 16.64% 10.84% 16.12%
Net income growth, 5-year CAGR 39.26% 9.08% 0.00%

Health

Metric HMY RGLD Gold median
Debt to equity 0.25 0.05 0.10
Current ratio 0.54 2.92 3.08
Net debt to EBITDA 0.00 0.81 0.00

Dividend

Metric HMY RGLD Gold median
Dividend yield 1.42% 1.38% 1.49%
Payout ratio 0.03 0.42 0.00

Size

Metric HMY RGLD Gold median
Market cap 11.82b 21.44b 1.96b

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